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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) April 29, 1998
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Realty ReFund Trust
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(Exact Name of Registrant as Specified in its Charter)
Ohio
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(State or Other Jurisdiction of Incorporation)
001-07062 34-6647590
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(Commission File Number) (I.R.S. Employer Identification No.)
925 Euclid Avenue, Suite 1750, Cleveland, Ohio 44115
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(Address of Principal Executive Offices) (Zip Code)
(216) 622-0046
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 2. Acquisition or Disposition of Assets.
On April 29, 1998, RRF Limited Partnership ("RRFLP"), a Delaware limited
partnership controlled by its sole general partner, Realty ReFund Trust
("RRF"), acquired the Lafayette Hotel Ramada Inn & Conference Center, a
147-suite hotel located in San Diego, California. The acquisition occurred
pursuant to the terms of the Agreement of Purchase and Sale and Joint Escrow
Instructions, dated March 20, 1998 (the "Purchase Agreement"), between Lafayette
Hotel, LLC and RRFLP, which is attached hereto as Exhibit 2.1.
Pursuant to the terms of the Purchase Agreement, RRFLP paid Five Million One
Hundred Forty-eight Thousand Dollars ($5,148,000) for the hotel property
described above. RRFLP paid the purchase price by delivering $1,448,000 in
cash, $1,348,000 of which was drawn under a secured revolving line of credit
with Pacific Century Bank, and two promissory notes, payable to Lafayette
Hotel, LLC, in the aggregate amount of $3,700,000. The parties to the Purchase
Agreement determined the purchase price in arms-length negotiations. RRFLP
intends to utilize the assets acquired by it pursuant to the Purchase
Agreement in accordance with their use prior to the acquisition.
Item 7. Financial Statements and Exhibits
(a) - (b) Financial Statements and pro forma financial information will be
filed, pursuant to the provisions of paragraph (a)(4) of Item 7, in an
amendment to this Current Report on Form 8-K within 60 days after the
date of this filing.
(c) Exhibits.
Agreement of Purchase and Sale and Joint Escrow Instructions, dated
March 20, 1998, between Lafayette Hotel, LLC and RRF Limited
Partnership.
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Exhibit
No. Document Description
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2.1 Agreement of Purchase and Sale and Joint Escrow
Instructions, dated March 20, 1998, between Lafayette
Hotel, LLC and RRF Limited Partnership.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Realty ReFund Trust
(Registrant)
Dated: May 14, 1998 By: /s/ Gregory D. Bruhn
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Name: Gregory D. Bruhn
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Title: Executive Vice President, Chief
Financial Officer, Treasurer and
Secretary
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INDEX TO EXHIBITS
Exhibit
No. Document Description
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2.1 Agreement of Purchase and Sale and Joint Escrow
Instructions, dated March 20, 1998, between Lafayette
Hotel, LLC and RRF Limited Partnership.